A Takeoff in Transport Stocks Lacks Proper Propulsion

The Dow Jones Transportation Average has notched a short-term breakout. But is there enough fuel in the tank?

Among technical analysts, there is a battle between bullish and bearish interpretations for the Dow Jones Transportation Average. Bulls see last week's results as an upside breakout from a year-long decline. Bears see stocks that are too overheated to continue moving up.

Both camps, however, can agree that the transportation sector is now more interesting than it has been in a long while.